Good Essay About Company X Code Of Ethics Is Divided Into Four (4) Main Parts As Follows:
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According to Investopedia.com, a code of ethics is a guide of principles designed to help professionals conduct business honestly and with integrity. They further went on to say a code of ethics document may outline the mission and values of the business or organization, how professionals are supposed to approach problems, the ethical principles based on the organization's core values and the standards to which the professional will be held.
It is designed to guide the behavior and conduct of all employees by explaining the principles the Company expects you to follow on the job. A code of ethics is a vital document for any business, as breaches of ethics can land companies in serious trouble with consumers, other organizations or government authorities (Ingram, 2015).
Ethical Standards and Procedures.
Implementing and Improving the Code of Ethics.
The Company is committed to act ethically in all aspects of its business. Our ethical standards are based on the following principles:
These ethical principles will apply to our dealings with our shareholders, our staff, our consumers, our business associates, the government and the community. The company expects the same ethical standards from those with whom it does business.
Our Ethical Standards are based on the following:
We respect the Rule of Law
We comply with federal laws and regulations
We respect human rights
We conduct our business with integrity and fairness
We renounce bribery and corruption
We seek mutual advantage in our relationships
We build and foster trust in all our dealings
We respect the environment
The Code of Ethics defines and describes the expected standards of behavior and conduct under eight headings as follows:
Environment, Safety & Health
Conflicts of interest
The Company is committed to ensuring that it treats all employees, and that employees treat each other, with DIGNITY, TRUST & RESPECT.
Not practice nor tolerate discrimination of any kind.
Not tolerate bullying, harassment or obscene language.
Conduct itself and expect employees to conduct themselves with integrity and respect to all.
Be fair and transparent with regard to recruitment, promotion and compensation policies.
Environment, Safety & Health
The organization is dedicated in ensuring that every employee will go home safe and healthy everyday!
Accordingly the Company Will
Strive to reduce all harmful influences on the environment.
Never knowingly distribute or sell contaminated products.
Strive to maintain a safe and healthy workplace.
We expect our employees to;
Follow all safety and health rules and practices.
Conflict of Interest
All employees have an obligation to act in the best interests of the Company. A conflict of interest arises in the workplace when an employee has competing interests or loyalties that either are, or potentially can be, at odds with each other (Heathfield, 2014).
Not engage in any activity outside the Company which prevents the employee from devoting the appropriate time, care and attention to the Company’s business.
Not use Company property, information or position for personal gain.
Not engage in or be part of any business which competes with the Company.
Not ask for any gifts or favors from the Company’s suppliers or customers.
Not accept gifts of cash or cash value vouchers from the company’s suppliers, customers or competitors under any circumstances.
Not supervise family members.
Declare to the company any family member working in their own or another Group company or with any supplier or competitor.
Employees should maintain all company information in strict confidence.
Such information includes financial performance, product formulations, list of customers, pricing strategies etc.
If you are not sure if the information is confidential treat it as if it is.
The obligation to safeguard confidential Company information continues after employment with the Company ends.
Financial Controls and Records
The company is committed to maintaining complete, accurate, and comprehensible financial records:
No employee should assist any other employee in entering into the Company’s records inaccurate, incomplete or misleading data.
All employees are required to cooperate fully with the Company’s auditors, internal or external.
Legal and statutory obligations
The Company is committed to compliance with all relevant laws, rules and policies in every country in which we do business. All employees are expected to adhere to the standards and restrictions imposed by those laws.
Neither the Company nor its employees shall pay; offer to pay, or promise to give anything of value, directly or indirectly; to any government official, supplier, customer, competitor or their agents; for the purpose of influencing any decision or retaining or obtaining any business.
Employees of the Company may engage in any political, religious or public activity not prohibited by law as long as such activities are carried out in time free from employment duties and outside of the work place.
Employees must not use the name of the Company or any financial, material or other resources or assets of the Company in such activity without the approval of Board of Directors.
Training workers about professional ethics is an excellent way of setting standards and teaching your staff the importance of integrity in business (Mooney, 2013). Josephson (2012), states that “corporate vulnerability to criminal prosecution, civil liability, regulatory sanctions, debarment from federal contracts and reputation damaging, resource-draining morale destroying public accusations has never been higher”. He further went on to posit that the trend toward greater regulation and more aggressive and hostile media coverage is likely to continue. Thus, we need to need to provide ethical training for each and every employee. The following are some specific elements of our ethics training program:
Training on ethical judgments
We will provide training on ethical judgments and ensure that employees learn the concepts. These training will provide critical thinking strategies with universal ethical values among employees and between employees and organization. This training will enable employees to discover our core values.
Training about ethical issues relating to the industry
Ethical issues in our industry are different from those in other industries. To deal with the specific issues in our industry, our ethics training will include specific training modules relating to our industry.
Develop organization ethics and rules
Training on organizations ethics and rules will not be limited to only handbooks, but will be an ongoing process, where employees will learn the concept.
The Monitoring, Auditing and Reporting of employee misconduct:
All employees are expected to abide by and to obey the CODE.
Each employee is responsible for his or her own ethical behavior.
Employees who become aware of actual or threatened violations of this code have a duty and a responsibility to report the facts and circumstances to the Company.
Any such report or disclosure, of a breach of the Code, as long as it is made in good faith, is “protected”.
Any employee who abuses or victimizes or threatens to abuse or victimize any other employee who makes a “protected” disclosure will have their employment terminated.
Employees who knowingly make false or bogus disclosures against other employees will face disciplinary action.
Employees should report known or suspected breaches of the CODE to their immediate Manager.
Where they have reason to believe that their immediate Manager is implicated in the matter or is not taking the report seriously they should report their concerns directly to the H.R. Manager or the General Manager or to the CEO.
Where these approaches do not bear fruit employees can write to the Chief Internal Auditor.
All reports of breaches of the CODE will be investigated by the Company. The subject of such an investigation will be informed of the allegations (but not of the person who made the report) and will be given every opportunity to defend themselves and establish their innocence.
This Code now forms part of the Disciplinary code of the company. Infringement of this CODE by Company employees can lead to disciplinary actions including, where appropriate, suspension/dismissal.
It is very important to evaluate the effectiveness of an Ethics program. Ruthford (2006), states that Section 8B2.1. (b)(5)(B) of the United States Sentencing Commission's Federal Sentencing Guidelines states "The organization shall take reasonable steps - to evaluate periodically the effectiveness of the organization's compliance and ethics program. As such, we will use two main tools in the evaluation of our Code of Ethics. These tools are, surveying and auditing.
This will include questioning employees using situational questioning about ethical dilemmas to see what their response would be like or if they properly understand the purpose of ethical training and the importance of their compliance to not only self but also the company.
Auditing company records to ensure that the proper procedures are followed by employees when dealing with company business.
Ingram, D. (2015). Importance of Creating a Code of Ethics for a Business. The Houston Chronicles.
Retrieved from: http://smallbusiness.chron.com/importance-creating-code-ethics-business-3094.html
Hethfield, S. (2014). About Money. Conflict of Interest. Retrieved from:
Mooney, L. (2013). The Houston Chronicles. Advantages of Training Employees About Work
Ethics. Retrieved from: http://smallbusiness.chron.com/advantages-training-employees-work-ethics-44472.html
Ruthford, C. (2006). Ethics Resource Centre. Why measure ethical effectiveness. Retrieved
Josephson, M. (2012). Business Leadership & Ethics. Elements of an Exemplary Corporate
Ethics Program – Check-the-Box Compliance Programs Won’t Meet New Federal Standards by Michael Josephson. Retrieved from:
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